Actually, it was in NR from Anadigics (the Chinese deal would take over a 1 year to close where with II-VI Inc. from 45-60 days) :

http://www.anadigics.com/news/press_releases/anadigics_announces_it_has_entered_merger_agreement_ii_vi_incorporated_offer_pri

In the business judgment of the Company's Board of Directors, in light of the Company's current business and financial condition, including the challenges to the Company's business and financial condition caused by the uncertainty surrounding the bidding process in which the Company has been engaged since November 2015, Party B's January 14, 2016 Proposed Amended Merger Agreement does not provide the Company and its stockholders with adequate protection against the potentially irreparable harm to the Company's business and financial condition that could result in the event that the proposed transaction with Party B does not close in a timely manner or at all. The Company's Board of Directors considered, among other things, that, if Party B were unable to consummate the proposed merger transaction with the Company in a timely manner or at all as a result of the CFIUS review process or otherwise, the Company could, by that time, have suffered irreparable declines in its financial and business condition and lost the opportunity to obtain $0.66 per-share for the Company's stockholders through the II-VI Merger Agreement, which, if not accepted by the Company, was to expire, by its terms, on January 15, 2016.

The Company's Board of Directors therefore weighed the comparative likelihood of completing the proposed transactions with II-VI and Party B, respectively, in assessing the overall value to the Company's stockholders of said transactions. Based upon its consultation with its financial and legal advisors, as well as upon discussions that its financial advisors and management have had with II-VI, the Company's Board of Directors believes that, subject to the satisfaction of the terms of the proposed II-VI tender offer for the Company's shares, II-VI may be able to close its proposed merger transaction with the Company in approximately 45 to 60 days.

The Company's Board of Directors also considered the fact that the Company's execution of the II-VI Merger Agreement does not preclude Party B (or any other bidder), prior to the closing of the Company's proposed merger with II-VI, from submitting, or the Company's Board of Directors from considering, a further amended offer to acquire the Company.

Actually, to me the Chinese company does not have any chances in acquiring Anadigics because it would take over a year to close the deal which would result in additional operating costs etc. for that period of time as well as other losses and let's not forget about Committee on Foreign Investment in the United States (CFIUS) process review ( http://www.wsj.com/articles/u-s-charges-six-chinese-citizens-with-economic-espionage-1432046527 I'm sure you can find a lot more about economic espionage)

The SEMICONDUCTOR Today's "articles" were a bunch of NRs put together but there are other interesting NR in regards GaAs, VCSELs, LED, POET, EpiWorks, Anadigics, II-VI and the industry overall : http://viewer.zmags.com/publication/c831c33d#/c831c33d/1